Fabian Barth (Alvarez & Marsal) examines the distinction between when an assessment is ‘made’ and ‘notified’.
Legal background
When issuing a VAT assessment against a taxpayer HMRC have to comply with various time limits. For example in a standard scenario of incorrect returns (outside of fraud or the like) VATA 1994 s 73(6) prescribes that the assessment must be made either within two years after the end of the relevant period or within one year after HMRC obtained all the facts allowing for the assessment to be raised. In any event it cannot be made later than four years (s 77(1)(a)).
In C&E Commrs v Le Rififi Ltd [1995] STC 103 Balcombe LJ observed that ‘[the] assessment of the amount of tax considered to be due and the notification to...
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Fabian Barth (Alvarez & Marsal) examines the distinction between when an assessment is ‘made’ and ‘notified’.
Legal background
When issuing a VAT assessment against a taxpayer HMRC have to comply with various time limits. For example in a standard scenario of incorrect returns (outside of fraud or the like) VATA 1994 s 73(6) prescribes that the assessment must be made either within two years after the end of the relevant period or within one year after HMRC obtained all the facts allowing for the assessment to be raised. In any event it cannot be made later than four years (s 77(1)(a)).
In C&E Commrs v Le Rififi Ltd [1995] STC 103 Balcombe LJ observed that ‘[the] assessment of the amount of tax considered to be due and the notification to...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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